New Zealand announces Block Offer 2015

New Zealand

WELLINGTON, March 30, 2015 – The New Zealand Ministry of Business, Innovation and Employment announced today the start of the country’s yearly petroleum exploration permit tender, dubbed Block Offer 2015.

The tender closes on September 30 and covers more than 429,000 square kilometres of exploration areas, 4,093 square kilometres onshore and 425,205 square kilometres offshore.

“Block Offer 2015 represents the largest ever acreage offered by the New Zealand government. The release areas comprise a range of exploration opportunities, spanning well-explored areas through to frontier regions where little or no exploration has taken place,” said New Zealand Petroleum and Minerals general manager James Stevenson-Wallace in a press release.

Areas in the Great South and Canterbury Basins will again be offered this year, though no permits were awarded in either territory in 2014.

Last year, the offer tallied 15 exploration permits awarded to exploration companies, with Chevron and Indian multinational ONGC Videsh entering the market for the first time.

New Zealand Petroleum and Minerals has released an updated Petroleum Exploration Data Pack for Block Offer 2015. The data adds 11 new projects to a collection of open-file seismic and well data, interpretation projects, reports and studies.

Read our latest insights on:

• Multinational

Previous

Caltex Australia shares drop after Chevron exit

Next

Crude falls with Iran talks, weak demand